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The new era of retail in the EMEA market has seen the development of several new solutions including QR codes and related technologies, which are frequently credited with increasing efficiency without sacrificing accuracy. In an age and region when retailers must be resilient and technologically savvy, the time has come for the industry to fully utilise dynamic QR codes, with the global QR Code Labels Market size projected to reach $1268.1 million by 2026. The complete implementation of dynamic QR codes is critical for companies to react to the needs of modern retail, due to its integration of technical innovation with sustainability and quality assurance.
QR codes and labels have grown increasingly prominent in the retail and eCommerce industries in recent years, but only the most advanced provide long-term solutions to retailers. What was once a clumsy technology that frequently did not perform is now a personalised solution used in every channel — from in-store displays to print advertising, email, direct mail, and even television advertisements. QR codes are becoming progressively more important as retail and eCommerce marketing teams recognise they can be utilised to improve the customer experience, promote loyalty, and ultimately drive revenue; as consumers engage more frequently and in new ways via mobile devices.
Static vs. Dynamic QR Codes
Static QR Codes cannot be altered after they have been produced, they are not trackable, and cannot be used for online retargeting. Dynamic QR Codes, on the other hand, allow businesses to modify QR Code information as many times as needed, are trackable, and allow retailers to retarget individuals on digital platforms. Furthermore, static QR Codes take longer to scan than dynamic QR Codes. Finally, while static QR Codes are free, dynamic QR Codes cost around $5 a month.
Application of QR Codes
During 2020, QR codes were most commonly seen in place of hard menus at restaurants, museums, and events. Users could scan a one-dimensional QR code to discover more about the location they're in or to access a venue. QR codes have also been employed for check-ins in public health and healthcare businesses during this time. However, some organisations spent lockdown investigating ways that QR codes could be more multi-purpose and retrieve and deliver information simultaneously. Given how simple it is to create QR codes, it is not unexpected that by 2022, 1 billion individuals have been utilising QR codes to access and transmit information.
As new EU regulations are implemented, Medicinal Packages in Europe utilise QR codes to assist in the fight against fake medications. Consumers may recognise the genuine product by scanning QR codes affixed to drug containers. In this approach, the EU prioritises the safety of its citizens.
As 6 million Chinese tourists visited Europe in 2019, cashless payments were introduced. Cashless payments are now possible for retailers through the adoption of QR codes as payment outlets. Through this, European banks are incorporating QR codes into their banking transactions to meet the needs of their Chinese customers.
As the popularity of online shopping in European countries grows, so does the need for package monitoring. 65% of e-buyers purchase clothing and sportswear from other EU nations, and shipments take longer to arrive. Package tracking is established to give superior delivery services. The challenge of manually checking in packages to point hubs is reduced by including QR technology in deliveries.
Features and Benefits
QR codes are both a popular marketing tool, widely integrated by marketers and businessmen as a technique to drive traffic to their website, and a payment solution to make the purchase journey easier for customers. Furthermore, reduced label size offers cost-efficiency and supports sustainability.
Other benefits include the fact that it supports last-minute content changes without impacting lead times or costs, as well as reducing the limitations on international language translations. It also adds an interactive, direct-to-consumer digital touchpoint to physical labels, and supports circular fashion by displaying garment recycling details. Finally, it makes use of labels designed to withstand extensive wear and washes, does not require a high technology competency to implement and is industry agnostic.
The Smart Retailer Solution
Dynamic QR labels enable brands to bring physical labels into the digital world, facilitating greater efficiencies, and unlocking a new channel to engage their consumers. For brands, dynamic QR labels offer an easy way to verify SKUs, complete quality checks, and authenticate products. Additionally, dynamic QR codes enable brands to stock count labels and packaging products directly from the SKU barcode and unlock new value within existing item-level stock counts, including leveraging QR scans to support consumer behaviour data collection. QR codes also offer more opportunities for customers to engage directly with brands through detailed product information, multimedia content, customised recommendations, recycling details, and more.
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